Prices under pressure: European power winter outlook 2026-27
Synopsis
Gas will set the tone for European power this winter, but it’s far from the only story. Drought is still weighing on nuclear, hydro and coal availability, while electrification and strong renewables additions are changing price signals and electricity flows across the continent. Kpler experts walk through the drivers, the risks, and where forward prices may be getting it wrong.
What you'll learn
- How gas price assumptions feed through to power prices across key European markets
- Hear how lingering drought conditions are continuing to affect nuclear, hydro and coal generation across Europe
- Demand and renewables: what increasing electrification and renewable additions mean for winter prices
- Views on potential mispricing across key European power products
Meet the speakers
Liam Coman
Liam joined Kpler in May 2026, focusing on European power markets. He is responsible for developing bottom-up long-term demand models, tracking capacity additions and policy across Europe. Before joining Kpler, Liam worked at S&P Global covering renewable installation, policy and technology developments. He holds an MEng in Mechanical Engineering from Trinity College Dublin.
Alessandro Armenia
Alessandro Armenia leads Kpler's Power Analytics team. He is responsible for the Power Insight product, combining market pulses, weekly trading calls, weather reports, and monthly forecasts to help market participants navigate the complexities of European power markets. His career began at TotalEnergies, where he developed expertise in energy modelling and techno-economic analysis. Today, he focuses on power markets across France, Germany, Belgium, Italy, and Spain. Beyond analytics, Alessandro is a natural communicator: he speaks five languages, is learning Arabic, and previously hosted the InnoStation podcast for two years, connecting with more than 15 founders and CEOs shaping the future of the energy sector.
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